Growing Criticism Of Government’s Energy Cost Plan

There is an increasing number of voices opposing the government’s plan to reduce energy costs for consumers. Analysts believe that the policy could lead to power shortages and cost jobs. Some manufacturers have welcomed the plan as they face crippling energy costs. Others are concerned about the government’s interference in the market and that it won’t impact prices until at least mid-2023.

• Shell announced today that it will put an agreement on hold to supply gas to the east coast of Australia due to the government’s plan. It said it needs time to assess the impact of the price cap and regulatory changes.
• Woodside has said that the plan doesn’t deal with supply problems and will reduce investment in the energy sector. Chief executive O’Neill said that the industry had not been “meaningfully” consulted. She also noted that the surge in power prices is not just because of Russia’s invasion of the Ukraine but also the increased importance of gas at the same time as the domestic gas supply is falling.
  - The Australian